Point72 Hong Kong Ltd Purchases Shares of 2,133 Okta, Inc. (NASDAQ:OKTA)

Point72 Hong Kong Ltd purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,133 shares of the company’s stock, valued at approximately $159,000.

Other hedge funds have also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Okta during the third quarter valued at $26,000. Blue Trust Inc. raised its holdings in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in Okta in the second quarter valued at $47,000. Finally, nVerses Capital LLC purchased a new stake in Okta in the second quarter valued at $47,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares in the company, valued at $2,051,039.13. This trade represents a 9.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 32,516 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $76.22, for a total value of $2,478,369.52. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock valued at $35,701,361 in the last three months. 7.00% of the stock is currently owned by insiders.

Okta Stock Performance

NASDAQ:OKTA opened at $80.85 on Tuesday. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $74.94 and a 200 day moving average price of $84.56.

Analyst Ratings Changes

OKTA has been the subject of several analyst reports. Barclays started coverage on Okta in a report on Tuesday, November 19th. They issued an “equal weight” rating and a $81.00 price objective for the company. DA Davidson dropped their price objective on shares of Okta from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company decreased their target price on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their price target on shares of Okta from $105.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, BTIG Research cut their price objective on shares of Okta from $128.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $98.62.

Okta Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.